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What is the French Colonial Tax? - AfriTechNews
Discover the truth about the colonial tax France has imposed on some of its former African colonies, and learn how it all started.
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The Colonial Pact
The colonial pact between France and its former colonies indicates a ruler that was not ready to let go. Whether France regrets that decision today is debatable. However, the European nation has benefited greatly from this pact because the African countries contribute $500 billion to its treasury every year.
The obligations that France subjected to some ex-French colonies under the colonial pact include:
The ex-French colonies that agreed to this pact did so because they were afraid of facing the same consequences that other colonies experienced.
- Paying for the infrastructure France built during colonisation.
- Keeping 50 percent of their foreign reserves in the French Treasury. 14 African countries have been doing this for years. Interestingly, these countries can only access 15 percent of their reserves each year. If they need more, they have to borrow it.
- France has the first right to purchase any natural resources discovered.
- French companies have dibs on all government procurement bids
- Senior military officers are trained in France.
- France has the right to deploy its military in the African countries
- Countries have to make French the official language and the education language.
- Using the French colonial currency.
- Former colonies have to send a reserve report to France.
- Ex-colonies cannot enter into military alliances with other countries without approval from France.
- Ex-colonies are required to join forces with France during war or global crisis.